Hi, this is Mike Sheehan from https://FinancialProf.org.

Is life insurance a good investment? Absolutely. Positively. 100%. And I'm not just saying that because I sell life insurance, but I've been doing this for 25, 30 years. And I've had my share of clients that have passed away to where I've had to talk with that surviving spouse.

And you know what? And not one of them regretted having life insurance. Frankly, a lot of them will even go on as much as to say, I wish we would have planned better. You see life insurance proceeds are tax-free. So you don't have Uncle Sam digging into your pocket. It's 100 percent tax-free. And in the situation where a spouse passes away, you're talking maybe 2-5 weeks, sometimes a little longer, until you receive the death certificate, and then you file that with the insurance company, and between a week...

10 days, you'll receive that check and it's 100 percent tax-free and you can use it for whatever you want. Whether it's bills, whether it was final expenses, or whether it was you wanted to pay off the mortgage. I just had a client whose wife passed away and they talked about the fact that if one of them passed away, they wanted to use the life insurance to pay off their kid's college loans.

And that's what he's doing. He's going to be able to pay off their college loans, which were six figures, because of the life insurance that was on his wife. So again, is it a good investment? Yes. And the younger you buy it, the less expensive it is. And also the chance of you having any health issues is going to be less when you're young than when you're old.

So it's something to consider and something to look into now. You may not quote-unquote need it, but your situation, like most people, will change to where maybe you get married, you have kids, you have a mortgage, and now you have some expenses that need to be dealt with if you were to pass away. So sit down and have that discussion.

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